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Shareholder Profile: MIDFLORIDA Credit Union
Member Communications Archive

November 2020 - Beginning as a credit union for educators in the 1950s, MIDFLORIDA Credit Union has grown to become one of the largest commercial and residential lenders in the state of Florida. At the core of the institution’s growth is a steadfast focus on meeting the financial needs of its members with excellent personal attention. Today, MIDFLORIDA has assets of $5 billion and serves more than 359,000 members across a network of nearly 65 branches.

2019 was a pivotal year for MIDFLORIDA. The credit union completed two mergers and acquisitions with banks and significantly expanded its footprint, which now spans Gainesville to Naples and Tampa Bay to Port St. Lucie. These combinations helped propel the MIDFLORIDA’s asset growth by 50 percent since 2018 and positioned it to serve businesses and households throughout the entire mid-Florida region.

MIDFLORIDA has been an FHLBank Atlanta member for more than a decade. According to Chief Financial Officer Zelda Abram, the credit union uses its relationship today as a source of fixed-rate funding for lending, which is balanced between auto, residential, and commercial.

“FHLBank Atlanta advances provide a source of strategic borrowing for longer-term lending, including match-funding for commercial loans and residential mortgages,” said Abram. “We have kept our borrowing simple with fixed-rate advances, but if we need a more complex structure, we know that FHLBank Atlanta would be able to provide it.”

In addition to advances, MIDFLORIDA uses FHLBank Atlanta’s securities safekeeping services for its investment portfolio. Abram notes that the service is straightforward and simple to use, and proved useful during the M&A activity. 

“One of the recent bank acquisitions came with a sizable investment portfolio, and FHLBank Atlanta worked with us to get those securities transferred into our safekeeping account,” said Abram. "The process flowed very well.”

In addition to access to FHLBank Atlanta’s products and services, Abram says that having a financial partner that is responsive to their questions and needs makes the relationship particularly valuable to MIDFLORIDA.

"The lines of communication are very open,” said Abram. “Our relationship manager keeps us informed and if we have a question, we can always pick up the phone and get an answer quickly.”


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